17 Part 1 of 2 Required Information Exercise 9-17 (Algo) Conventional and average cost retail methods; employee discounts [LO9-3, 9-4) LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its largest departments for the month of March 2021 0.4 PO Beginning inventory Purchases Freight- Purchase returns Net als Net sardos Normal baka Net sales Eloyer discounts Retail 344,000 5 60,000 211,00 404, 21,30 5. 2. 5.200 3. B. 204, 1,200 Sales are recorded net of employee discounts. Exercise 9.17 (Algo) Part 1 Required: 1. Compute estimated ending inventory and cost of goods sold for March applying the conventional retilmethod (Round ratio 17 1. Compute estimated ending inventory and cost of goods sold for March applying the conventional retall method (Round ratio calculation to 2 decimal places (le, 01234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign) Answer is complete but not entirely correct. Part of Cest Retail 04 04000 404.000 Beginning inventory Purch Frei Purchase returns Netmarkup 64.000 211.000 21.30 10.000 2.000 8.200 456.200 1.000 462 300 Netmarkdown Goods available for sale 270.000 Coul total percentage conventional read 08.00 18.000) Normal breakage Net Sales Employee disco Estrated and wory at Estimated ending you Emated cost of goods mod 284.000 12.2001 100 30.305 1700